Stock Market Technical Indicators & Analysis
Dr. Wish I have been writing about SQ for some time. My webmaster son really likes their products. I should listen to his stock picks more often! Note the large volume GLB to an ATH (all time high) last February. SQ reports earnings tomorrow.
This daily chart shows that SQ is in an RWB advance with great technical values: 12/6/6. (See glossary for definitions.)
Many of us spend our time trying to anticipate the market’s turns. A true trend follower merely waits for Mr. Market to reveal his intentions and then responds appropriately. These charts shows that the QQQ, SPY and DIA remain in daily RWB up-trends. More impressive is that all three ETFs also have perfect 12 weekly RWB patterns.Why not just ride them?
The GMI remains Green and at 6 (of 6).
Market appears to me to be getting frothy. While major indexes are moving higher, they conceal the fact that only only 40% of US stocks (70% of Nasdaq 100 stocks) rose on Thursday, most troops are not following the leaders. With end of month and earnings season coming, I expect weakness near term. QQQ may be extended having broken above its channel line (thanks Vas).
